COVID-19 Resources for Your Business

An Update for your Business and COVID-19

Choose New Jersey stands ready to support your business in these unprecedented times. We want to ensure you have the information you need and provide access to available aid. The U.S. government and the State of New Jersey have instituted several loan and grant programs to assist companies experiencing financial hardship due to coronavirus.

One of the largest federal legislative efforts, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, allocates $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the “Paycheck Protection Program,” the initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. Visit the U.S. Small Business Administration (SBA) to learn more about how your small business may qualify.

The State of New Jersey is committed to stabilizing small business operations and put them back on a pathway to growth. The New Jersey Economic Development Authority (NJEDA) has introduced a suite of loans and grants to assist those that are struggling at this time. NJEDA makes it easy for organizations to understand what support programs are available to you through its electronic “Eligibility Wizard”. This tool is designed to help businesses and nonprofits determine which state emergency financial assistance programs or federal SBA disaster loans best suits them. We encourage you to explore the specific programs below to identify the support you may need. For more COVID-19 information and resources, visit https://www.choosenj.com/COVID-19/

Additional Resources

NJEDA ELIGIBILITY WIZARD

Use this wizard to find out if you are eligible for a NJEDA grant or loan.

GARDEN STATE RELIEF FUND

WHAT CAN CHOOSE New Jersey DO FOR YOU

Relocation & Expansion Services

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Economic Development Connections

Our public and private partners provide a wide range of services. From higher education research collaboration to regulatory and legal assistance to workforce training, they’ll ensure you have a smooth landing.